Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Trial balance Unadjusted trial balance Adjusting journal entries Adjusted trial balance Closing journal entries Post-closing trial balance General Journal Transactions Oct. 1 S. Rey invested

image text in transcribed
image text in transcribed
image text in transcribed
Trial balance Unadjusted trial balance Adjusting journal entries Adjusted trial balance Closing journal entries Post-closing trial balance General Journal Transactions Oct. 1 S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company in exchange for its common stock. Oct. 3 The company purchased $1,425 of computer supplies on credit from Harris Office Products Oct. 6 The company billed Easy Leasing $4,800 for services performed in installing a new web server. Oct. 8 The company paid $1,425 cash for the computer supplies purchased from Harris Office Products on October 3. Oct. 10 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed. Oct. 12 The company billed Easy Leasing another $1.400 for services performed. Oct. 15 The company received $4,800 cash from Easy Leasing as partial payment toward its account. Oct. 17 The company paid $805 cash to repair computer equipment damaged when moving it. Oct. 20 The company paid $1,728 cash for advertisements published in the local newspaper. Oct. 22 The company received $1,400 cash from Easy Leasing toward its account. Oct. 28 The company billed IFM Company $5,208 for services performed. Oct. 31 The company paid $875 cash for Lyn Addie's wages for seven days of work this month. Oct. 31 The company paid $3,600 cash in dividends to the owner (sole shareholder). Check: Ending balances: Cash, $42,772; Revenues, $11,408; Expenses, $3,408 Nov. 1 The company reimbursed S. Rey in cash for business automobile mileage allowance (Rey logged 1,000 miles at $0.32 per mile). Nov. 2 The company received $4,633 cash from Liu Corporation for computer services performed. Nov.5 The company purchased computer supplies for $1,125 cash from Harris Office Products. Nov. 8 The company billed Gomez Co. $5,668 for services performed. Nov. 13 The company agreed to perform future services for Alex's Engineering Co. No work has yet been performed. Nov. 18 The company received $2,208 cash from IFM Company as partial payment of the October 28 bill. Nov. 22 The company paid $250 cash for miscellaneous expenses. Nov. 24 The company completed work and sent a bill for $3,950 to Alex's Engineering Co. Nov. 25 The company sent another bill to IFM Company for the past-due amount of ne company reimbursed S. Rey in cash for business automobile mileage (1,200 miles at 0.52 per mile). Nov. 30 The company paid $1,750 cash for Lyn Addie's wages for 14 days' work. Nov. 30 The company paid a $2,000 cash dividend. Check: Ending balances: Cash, $38,264; Trial balance totals, $98,659 Dec. 2 Paid $1,025 cash to Hillside Mall for Business Solutions's share of mall advertising costs. Dec. 3 Paid $500 cash for minor repairs to the company's computer. Dec. 4 Received $3,950 cash from Alex's Engineering Co. for the receivable from November. Dec. 10 Paid cash to Lyn Addie for six days of work at the rate of $125 per day. Dec. 14 Notified by Alex's Engineering Co. that Business Solutions's bid of $7,000 on a proposed proje has been accepted. Alex's paid a $1,500 cash advance to Business Solutions. Dec. 15 Purchased $1,100 of computer supplies on credit from Harris Office Products. Dec. 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for Liu Corporation and received $5,625 cash. Dec. 22-26 Took the week off for the holidays. Dec. 28 Received $3,000 cash from Gomez co, on its receivable. Dec. 29 Reimbursed S. Rey for business automobile mileage (600 miles at $0.32 per mile). Dec. 31 The company paid $1,500 cash in dividends

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Cassy Budd

13th International Edition

1265042616, 9781265042615

More Books

Students also viewed these Accounting questions

Question

What are the five basic parts of an internal research memo?

Answered: 1 week ago

Question

Cite the reasons employees join unions.

Answered: 1 week ago